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Company Overview Pilgrim s Pride Corporation (referred to herein as Pilgrim s, PPC, the Company, we, us, our, or similar terms) is primarily engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors and foodservice operators. JBS S.A., through its indirect wholly-owned subsidiaries (together, JBS ), be…
Operating margin is thin at 8.72%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 3.5%, steady but not accelerating. Free cash flow declined 57% despite revenue growth, conversion is weakening.
Free cash flow declined 57% versus the prior year, cash generation momentum has weakened. Net debt of $2.71B represents 4.2x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$18.57B
▲ +3.5% YoY
Net Income (TTM)
$888M
▼ -0.4% YoY
Op. Margin
7.39%
▲ +0.3pp YoY
ROIC
14.47%
Cash Flow & Balance Sheet
FCF (TTM)
$530M
▼ -57.4% YoY
Op. Cash Flow (TTM)
$1.39B
▼ -31.1% YoY
Net Debt
$2.81B
Cash & Equiv.
$542M
5Y CAGR: +8.9%
5Y CAGR: +12.1%
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